Over the last decade, the UAE has emerged as one of the major gems and jewelry markets, globally, thereby offering significant growth opportunities for the domestic as well as international players to explore the untapped market potential. The demand for designer and branded jewelry is growing in the region due to the increasing purchasing power and growing demand for premium products from the country’s HNWI population. Gems and jewelry companies are increasingly investing in the country and coming up with new designs, besides selling their products through a large number of distribution channels including exclusive showrooms, Dubai Gold Souk, online retail, etc.

According to “UAE Gems and Jewelry Market Forecast & Opportunities, 2019”, the gems and jewelry market in the UAE is expected to grow at more than 7% till 2019. Gold jewelry accounts for the largest share in the country’s gems and jewelry market, followed by diamond and platinum jewelry. On the other hand, the demand for precious gem stones is also growing, predominantly due a growing number of young consumers preferring them over yellow metal. Among the leading gems and jewelry manufacturers in the country, Damas International currently dominates the market, followed by Joyallukas, Tiffany & Co., Titan International and Geetanjali Gems. Dubai and Abu Dhabi are the largest revenue generators in the country’s gems and jewelry market due to increasing number of companies in these cities coupled with growing tourism and rising number of retail outlets. “UAE Gems and Jewelry Market Forecast & Opportunities, 2019” elaborates the following aspects related to gems and jewelry market in the UAE:

• To gain an in-depth understanding of gems and jewelry market in UAE• To identify the on-going trends and anticipated growth in the coming years• To help industry consultants, distributors and dealers to align their market-centric strategies• To obtain research based business decision and add weight to presentations and marketing material• To gain competitive knowledge of leading players• To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs

Report Methodology

The information contained in this report is based on both primary and secondary sources. Primary research included interviews with jewelry, manufacturers, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.